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Global Aluminium Based Battery Market Research and Forecast 2018-2023

“Aluminium based batteries to gain traction due to their ultra-fast chargeability, non-flammability, and high energy storage capacity characteristics”.

According to OMR analysis, the global aluminium-based battery market is expected to grow at a moderate CAGR during the forecast period 2018-2023. The aluminium-based battery market is estimated to grow modestly during the forecast period due to its increasing use in various end-use industries such as automotive, electronics etc. globally. The global aluminium-based battery market can be bifurcated into by product types which can be further segmented into aluminium-ion battery, and aluminium-air battery; by application the market has been segmented into industrial, automotive, and other applications and geography. The report provides detailed and insightful chapters which includes market overview, key findings, strategic recommendations, market segmentation, market estimations, market determinants, key company analysis, market insights, company profiling, geographical analysis, analyst insights and predictive analysis of the market.

Aluminium-based batteries use aluminium as one of the sources to produce electricity. Aluminium based batteries are of two types viz. aluminium-ion batteries and aluminium-air batteries (Al-air). The former is a class of rechargeable battery in which aluminium ions provide energy, while the later produce electricity from the reaction of oxygen in the air with aluminium. The fact that the aluminium is inert and can be handled easily in an ambient environment is expected to offer significant safety improvements for aluminium-ion batteries. These batteries offer the possibility of low cost, low flammability, and their high capacity is attribute to three-electron redox properties of aluminium. Durability and superfast charging capacity of aluminium based batteries are the factors which supplant lithium-based batteries with aluminium-based batteries. Moreover, compactness of aluminium-based batteries is attribute to its higher energy storage capacity on a per volume basis than other metal-based batteries. However, shorter shelf-life and slow adoption rate are the main factors that may hamper the market growth. Besides this, the market has enormous opportunities to look for such as abundance of aluminium metal and its various uses in different applications, growing electronic industry in emerging economies, and growing electric vehicles market.

On the basis of geography, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Asia Pacific region holds the largest market share in the market due to its vast population and rapid urbanization in Japan, and emerging economies like China, India, and South Korea. The region is expected to show substantial rise on account of implementation of government policies to promote electric vehicles in India & China. Moreover, China is the home of some of the major key players of the market which further propel the market growth.